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> with a CBDC is that there is nowhere left to "withdraw" to Why can't I use them to purchase dollars or yen? How did we get from the BofE issuing a currency
by ineptech 4y ago
> with a CBDC is that there is nowhere left to "withdraw" to
Why can't I use them to purchase dollars or yen? How did we get from the BofE issuing a currency that people can use to everyone being forced to use it? (Also, may I humbly suggest the wikipedia article on Gresham's Law, if you're not familiar with it: https://en.wikipedia.org/wiki/Gresham%27s_law https://en.wikipedia.org/wiki/Gresham%27s_law)
I agree that bad things would happen if everyone was forced to use a currency they don't want to use, but that's kind of axiomatic.
- d110af5ccf 4y agoIt's the obvious logical conclusion. Much of Europe is already actively trying to eliminate cash for quite a few years now. So the notion that a CBDC is acceptable specifically because cash will still exist, and that people won't be actively prevented from using cash in the future, is utterly absurd in light of the facts on the ground.
- ineptech 4y agoI didn't mention cash at all, perhaps you meant to reply to a different comment?